|From:||Michele A. W.|
|Sent on:||Friday, July 29, 2011 10:59 PM|
From: MattSent: Friday, July 29,[masked]:06 AMSubject: [entrepreneur-1431] Hey it's Matt
How are you? What's shakin buddy? ha ha.
Anyway, I wanted to talk about a few ideas on my mind briefly if I may. The first has to do with this book called "The World is Flat". I remember way back in high school actually taking business 20. Maybe some of you remember that. Anyway there was teaching about how the supplies went from... a) factory ... b) national distributor c) regional wholesaler d) local wholesaler e) retailer and finally to you as the consumer. Each level of the chain taking a cut of the profit.
You were taught that you need a business license, documents, and all sort of credientials to even buy from the local whole saler, let alone the factory, which seemed like nobility who you couldn't even get close to. Well with the dawn of the net all that's changed.
Can you image, how "Flat" things are becoming. Now YOU can actually by direct from the factories in China. Have a bundle of goods shipped right to your door, and or your drop shipper. Imagine that, and now you're the go to guy for whatever product one could imagine.
The way I found out how to do is via 2 websites. 1) www.dhgate.com and 2) www.alibaba.com
I like dhgate because it's much like ebay, only that in some cases you're buying direct from the factory. Each seller has a rating just like ebay so you have an idea of who's more legit. Alibaba is a bit behind the times. You have to contact the company via there site but generally they are one of the biggest and best factory direct type sites.
So whether you want to sell products on ebay, your home, your store, online or whatever there's a few sources for you to turn to if you want to buy at the lowest possible price. And were talking factory price, not factory price in terms of all those tv commericals you've seen saying that stupid slogan (which is just typical advertising at the retail level) , I'm talking real factory direct from the plant in china, giving you a massive discount especially if you buy in bulk.
Moving on. Another idea I wanted to talk about which I've mentioned previously is on starting a business. If you're looking to start a business before you start anything, what you should do is think about how money actually flows through society. Or at least the major percent of it. So for example someone gets their check from work. First things to be paid are what a person "needs" to live like: rent, food, clothing. Then onto other major things like, utilities, transportation, insurance, etc... Following which there some disposable income to buy other items, which are generally more like "wants".
So think about that, that's likely how many of you spend your money. It's how I spend mine. I'm gonna pay my rent, and food first, before anything else most likely, then move down the hiarachy of the needs, and then moving into the wants. It's not always this way but for most people it is, at least most of the time. Basically like the flow of where the money is going.
So all you have to do is position yourself to be where the money is going that is ideally: "needs" not wants, and ideally just main stream businesses. A good way to find these types of businesses is just a really boring concept of looking in the yellow pages for business catagories. Research them and you'll find some niches that you might be able to get into. Often with little investment. And again if it's a business that people "need" then money is flowing that way all the time, and likely will never dry up either. If it's a "want" then you still can make money of course, but it should be a main stream business that way you're more likely to tap into some of that disposable income. So that's another idea for some of you who might be looking for a way to get started.
Next if you're looking for something a bit out of the box and don't want to check the yellow pages, then first off you're a "risk taker". And generally most risk takers don't make much. But eventually if they hit onto something that's got all the right elements they might just hit it big and gain tons of success really fast. So one way I think you could do this is to try the following: 1) download all the episods of "Dragons Den" and of "Shark Tank". Do a report on which products got funded and which didn't. And out of those that got funded find out which were big hits and which weren't. Which you might be able to assimilate and which have too large barriers of entry. Then out of the ones you might be able to do now you know some concepts that might be worth following up on and seeing if you could do a similar business.
Now just briefly, another great area is the internet. Starting a social network on some kind of web 2.0 business if done right could be the next big hit. But there's a lot to learn and the net is rapidly evolving all the time which makes it a bit difficult. You can buy existing websites though that are established and making money, which is risky but is one way of getting started quickly without building from scratch.
Anyway there's some ideas. Again I really like the "yellow pages" though simply because so much disposable coin flows that way. You're not having to reinvent the wheel or be a pioneer and get arrows in his back. That's another reason why one of my personal favorite businesses to get into is real estate investing. Highly profitable area to get into. And you don't need money to buy real estate. You just need know how if you don't have money. Carlton Sheets has an excellent course called "no downpayment" it's been out for eons. That's one way to learn how some of it works.
Anyway, the next best idea is to find a mentor in the area that you want to get into. Not one that stands to benefit from your work. Someone who can give you unbiased feedback and instruction. That way they'll give you honest direction in the course you're working on.
Lastly I'm by no means an expert but I have been doing business for 18 years now and have done exceptionally well which gives me the experience and knowledge to try and educate you in matters concerning becoming and or growing as an entrepreneur. I've done many businesses, some worked some didn't. So I know the playing feild well, and simply want to try and offer my knowledge to you since you're part of the Edmonton Entrepreneur Group. I know that there simply is no other career move that beat being your own boss as I'm sure you know. So good luck and I'll see you at the next meeting...
Speaking of which that's on Monday Aug 15 at 7pm at the callingwood second cup. rsvp below. Thanks.
Edmonton Entrepreneur Group
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